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☆ Jeremy Siegel backs off on calls for the Fed to do an emergency interest rate cut
▼ + stars: | 2024-08-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wharton School Professor Jeremy Siegel no longer thinks it's vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively. "Obviously, I wanted to shake things up," Siegel said of his call for an intermeeting move. However, those expectations have been volatile as investors watch how quickly the Fed thinks it should ease policy. An emergency cut under these circumstances is "just not the way Jay Powell does things," Siegel said. "But Jay Powell has done things way too slow, certainly on the way up, and I just want to make sure he doesn't make the same mistakes on the way down."

Persons: Jeremy Siegel, Siegel, Jerome Powell, Powell, Jay Powell Organizations: Wharton, Federal Reserve, CNBC Locations: WisdomTree

☆ CNBC Daily Open: Dow sheds 1,000 points
▼ + stars: | 2024-08-06 | by ( Abid Ali | Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street sinksThe Dow Jones Industrial Average and the S&P 500 suffered their sharpest declines in nearly two years, as growing concerns about the U.S. economy rocked global stock markets. The Dow plummeted over 1,000 points, while the S&P 500 and Nasdaq Composite fell 3% and 3.4%, respectively. Wharton finance professor Jeremy Siegel urged the Federal Reserve to make an emergency 75-basis-point cut in the federal funds rate following Friday's disappointing jobs data. [PRO] Don't panicDespite a global stock market rout, several investors and strategists advised against panicking at this point.

Persons: Berkshire Hathaway, Amit Mehta, Wharton, Jeremy Siegel, Siegel, Austan Goolsbee, Goolsbee, CNBC's, cryptocurrencies, Bitcoin, bitcoin, Nexo, Antoni Trenchev, panicking Organizations: CNBC, Dow Jones Industrial, Dow, Nasdaq, Tech, Nvidia, Tesla, Berkshire, Google, Department of Justice, Federal Reserve, Chicago Federal, bitcoin Locations: U.S

☆ CNBC Daily Open: Dow sheds 1,000 points, Japan stocks rebound
▼ + stars: | 2024-08-06 | by ( Abid Ali | Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow plummeted over 1,000 points, while the S&P 500 and Nasdaq Composite fell 3% and 3.4%, respectively. Wharton finance professor Jeremy Siegel urged the Federal Reserve to make an emergency 75-basis-point cut in the federal funds rate following Friday's disappointing jobs data. Siegel believes the current fed funds rate "should be somewhere between 3.5% and 4%," citing the higher-than-expected unemployment rate and declining inflation as reasons for the cuts. "How much have we moved the fed funds rate?

Persons: Berkshire Hathaway, Amit Mehta, Wharton, Jeremy Siegel, Siegel, Austan Goolsbee, Goolsbee, CNBC's, Korea's Kospi, Richard Kaye Organizations: CNBC, Dow Jones Industrial, Dow, Nasdaq, Tech, Nvidia, Tesla, Berkshire, Google, Department of Justice, Federal Reserve, Chicago Federal, Nikkei, Honda, Renesas Electronics, CSI Locations: U.S, Asia, Pacific

☆ As markets crater, key levels to watch on the S&P 500 as it nears correction
▼ + stars: | 2024-08-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Data released Friday showed 114,000 jobs were created last month, far below a Dow Jones estimate of 185,000. The S & P 500, accounting for Monday's expected losses, will be down around 9% from its recent high. She sees support emerging for the S & P 500 around the 5,000 level, or another 6.5% from here. If market conditions get very dire in the meantime, there is a chance the Federal Reserve could step in, investors hope. "The fed funds rate right now should be somewhere between 3.5% and 4%," he said .

Persons: Dow Jones, Katie Stockton, There's, Stockton, CNBC's, Jeremy Siegel, They've Organizations: Nikkei, Federal, Wharton Locations: Japan, U.S

☆ Wharton's Jeremy Siegel says Fed needs to make an emergency rate cut
▼ + stars: | 2024-08-05 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Wharton's Jeremey Siegel on Monday called on the Federal Reserve to make an emergency 75 basis-points cut in the federal funds rate after Friday's disappointing jobs report. On Friday, the jobs report showed slower growth than expected and an unemployment rate that moved higher to 4.3%, its highest since October 2021. That unemployment figure "blew through" the central bank's target unemployment rate of 4.2%, said Siegel, chief economist at WisdomTree. Siegel isn't concerned that an emergency cut will send the markets into a downward spiral. If the Fed does not make an emergency cut before September's meeting, the market will react badly, Siegel predicted.

Persons: Wharton's Jeremey Siegel, Monday, —, Siegel, Alan Greenspan, They've, we're Organizations: Federal Reserve, University of Pennsylvania's Wharton School Locations: WisdomTree

☆ Dow crashes 1,000 points and the Nasdaq loses 3% as recession fears fuel market panic
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks plunged Monday amid recession fears and the yen carry trade unwind. AdvertisementUS stocks plunged on Monday as investors worried about a potential recession and the knock-on effects from the unwind of the yen carry trade. All of those factors have drummed up fears that a recession could be imminent, especially given that the Federal Reserve could be "behind the curve" in its failure to cut interest rates last month. AdvertisementHere's where US indexes stood at the 4:00 p.m. closing bell on Monday:Some believe the Fed should implement an emergency interest rate cut, including Wharton professor Jeremy Siegel. AdvertisementBut perhaps the biggest driver of Monday's stock market decline was the unwind of the yen carry trade.

Persons: Dow Jones, —, payrolls, Warren, Berkshire Hathaway, Jeremy Siegel, Siegel, LPL, Ed Yardeni Organizations: Nasdaq, Bank of, Service, Dow Jones, Apple, Amazon, Intel, Federal, Here's, Bank of Japan, Yahoo Finance Locations: Japan

☆ Why the stock market is freaking out again
▼ + stars: | 2024-08-05 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

The Dow tumbled more than 1,000 points at the open, and the broader market plunged 3% Monday. The Nasdaq, full of risky tech stocks, dropped 3.7%. Although that’s not in and of itself an unhealthy unemployment rate, its sudden march higher is alarming: Last year, the unemployment rate was at its lowest level since the moon landing. Traders are beginning to unwind big trades on Apple, Nvidia, Microsoft, Meta, Amazon, Alphabet and other tech stocks that had been surging since the beginning of last year. Monday’s rout, if it ends at current levels, wouldn’t even crack the top 100 worst days in market history.

Persons: Dow, that’s, Goldman Sachs, That’s, Jeremy Siegel, “, ”, Siegel, Stocks, it’ll, Warren Buffett, Berkshire Hathaway Organizations: CNN, Nasdaq, Nikkei, Federal Reserve, of Labor Statistics, Citigroup, JPMorgan, CNBC, Traders, Apple, Nvidia, Microsoft, Meta, Berkshire Locations: Wall

☆ Why the Fed is being blamed for the historic stock-market plunge
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The Federal Reserve is catching some heat for the historic stock market plunge. AdvertisementThe Federal Reserve is to blame for the historic stock market plunge since last week, according to a growing chorus of market experts. JPMorgan strategist Mislav Matejka said in a Monday note that the lack of Fed rate cuts in the first half of the year will weigh on economic growth in the second half, and that any coming interest rate cuts from the Fed likely won't be enough. AdvertisementRegardless of what the Fed's motivation might be with waiting until September to cut interest rates, the market is taking away a pretty clear message. "There is growing sentiment is that the Fed has waited too long to cut interest rates and is now behind the curve," Comerica Wealth Management CIO John Lynch said.

Persons: —, Wharton, Jeremy Siegel, Siegel, Jerome Powell, Powell, they've, we're, Kamala Harris, Mislav Matejka, Matejka, Paul Volcker, Volcker, DataTrek, Nicholas Colas, John Lynch Organizations: Federal, Service, Federal Reserve, Nasdaq, CNBC, Washington DC, JPMorgan, Fed, Comerica Wealth Management Locations: Iran, Japan, Washington

☆ The Fed needs to make an emergency cut, says Wharton's Jeremy Siegel
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs to make an emergency cut, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, state of the economy, why he's calling for emergency rate cuts from the Fed, and more.

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business

(This is CNBC Pro's live coverage of Monday's Wall Street chatter as global markets sell off. — Lisa Kailai Han 7:02 a.m.: How long sell-offs typically last Bad news: The current market sell-off may have further to go. — Lisa Kailai Han 6:09 a.m.: Oppenheimer's Stoltzfus: Best to not 'jump to conclusions' Investors need to have a cool head as global markets sell off, according to Oppenheimer's John Stoltzfus. — Fred Imbert 5:51 a.m.: Global markets in an 'aggressive risk-unwind', Vital Knowledge says Fears of a U.S. recession are pressuring global markets, leading investors around the world to sell some of this year's top winners, according to Adam Crisafulli of Vital Knowledge. "Markets are caught in an aggressive risk-unwind as equities plunge around the world, with tech getting hit particularly hard," he wrote in a note Monday.

Persons: Wharton's Siegel, Jeremy Siegel, CNBC's, Siegel, hasn't, it's, … They're, —, Lisa Kailai Han, Tom Lee, Lee, Duncan Toms, Toms, Fred Imbert, Victoria Greene, Greene, It's, Nimrit Kang, — Lisa Kailai Han, Dan Ives, Gene Goldman, Gennadiy Goldberg, Ives, Goldman, Goldberg, Oppenheimer's John Stoltzfus, Evercore, Ed Hyman, Hyman, Adam Crisafulli, Crisafulli Organizations: CNBC, Stock, Nikkei, Dow Jones Industrial, Nasdaq, Wharton, Federal Reserve, Fundstrat Global, HSBC, G Squared, Wealth, NorthStar Asset Management, Street, Wedbush, TD Securities, Federal, NASDAQ, U.S, Fed, Global Locations: U.S, Europe, Japan, China

☆ Stocks are approaching a 'watershed' moment as rate cuts unlock opportunity in unloved areas of the market, Wharton professor Jeremy Siegel says
▼ + stars: | 2024-07-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The stock market is about to see a major shift once the Fed cuts rates, Jeremy Siegel said. The top economist thinks value stocks could start outperforming growth stocks once the Fed eases policy. Cooling inflation data supports a Fed rate cut by September, Siegel predicted. The Wharton School finance professor pointed to opportunity lurking in value stocks, an unloved group of the market that's underperformed this year when compared to growth stocks. Growth stocks have outperformed partly due to Wall Street's AI craze, which has ignited investor fervor for growth stocks, like mega-cap tech firms.

Persons: Jeremy Siegel, Siegel, —, Powell Organizations: Service, Wharton School, CNBC

☆ You're not going to get value moving until the Fed drops rates, says Wharton's Jeremy Siegel
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou're not going to get value moving until the Fed drops rates, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, what to expect from June's PCE inflation data today, impact on the Fed's interest rate decision, and more.

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business

☆ Wharton's Jeremy Siegel: No way Democrats can hold the Senate if Trump wins the presidency
▼ + stars: | 2024-07-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWharton's Jeremy Siegel: No way Democrats can hold the Senate if Trump wins the presidencyJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the impact of the assassination attempt of former President Trump on markets, 2024 presidential election, down ballot races, and more.

Persons: Jeremy Siegel, Trump Organizations: Trump, University of Pennsylvania’s Wharton School of Business

☆ Jeremy Siegel says markets are 'looking forward' to a second Trump boost
▼ + stars: | 2024-07-15 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Wharton School finance professor Jeremy Siegel said markets are already anticipating a second Trump bump after the attempted assassination of the former president on Saturday raised the odds he will win the November election. He's more free market, he's antiregulatory, for growth," Siegel told CNBC's "Squawk Box" on Monday. Will there be a second time where those entrepreneurial spirits could rise and boost the stock market?" Siegel made his comments after the assassination on Trump raised the likelihood the Republican will win the presidency for a second time. "They're not thrilled about the tariffs," Siegel said of Wall Street.

Persons: Jeremy Siegel, Trump, Donald, he's, Siegel, CNBC's, Stocks, Trump's, They're Organizations: Wharton School, Trump, Republican, U.S, Wall Locations: China

☆ The Fed should definitely cut after 'game-changing' June CPI data, says Wharton's Jeremy Siegel
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed should definitely cut after 'game-changing' June CPI data, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, state of the economy, what to make of the key inflation data this week, impact on the Fed's rate path outlook, and more.

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business

☆ Stock market today: Nvidia pushes Nasdaq, S&P 500 to record highs
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The S&P 500 index and Nasdaq closed at record highs, driven by a 2% gain in Nvidia. UBS raised Nvidia's price target to $150 due to strong demand for its chips and a reasonable valuation. Investors are awaiting June's CPI inflation report Thursday and comments from Fed Chairman Jerome Powell. AdvertisementThe S&P 500 index and Nasdaq closed at record highs on Monday, driven by a nearly 2% gain in Nvidia stock. The AI darling rose after UBS raised its price target to $150 per share in a Monday note.

Persons: Jerome Powell, —, Price, Jeremy Siegel Organizations: Nasdaq, Nvidia, UBS, Service, Nvidia's, Blackwell, Federal, Wharton School

☆ Stocks will struggle and a recession is on the table if the Fed fails to cut rates by September, Wharton professor Jeremy Siegel says
▼ + stars: | 2024-07-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The rally in stocks could be endangered if the Fed doesn't cut rates soon, Jeremy Siegel warned. The Wharton professor made the case for the central bank to cut rates in September as data softens. AdvertisementThe rally in stocks and the strength of the economy is at risk if the Fed doesn't start cutting interest rates soon, according to Wharton professor Jeremy Siegel. No rate cut in September could put a recession on the table, Siegel warned, in addition to endangering the trajectory for stocks. Advertisement"So although I think stocks are still in an uptrend and the growth stocks are still certainly walloping the value stocks, I think Powell has to take note," Siegel said.

Persons: Jeremy Siegel, Wharton, —, who's, Siegel, Powell Organizations: Service, CNBC, Atlanta Fed, New, Fed

☆ We are in a 'slowing' economy, says Wharton's Jeremy Siegel
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are in a 'slowing' economy, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania's Wharton School of Business and Wisdom Tree chief economist, joins 'Closing Bell' to discuss his market outlook following today's jobs report.

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania's Wharton School of Business

☆ Watch CNBC’s full interview with Wharton's Jeremy Siegel, BMO Capital’s Brian Belski and Requisite’s Bryn Talkington
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Wharton's Jeremy Siegel, BMO Capital’s Brian Belski and Requisite’s Bryn TalkingtonWharton's Jeremy Siegel, BMO Capital’s Brian Belski, and Requisite’s Bryn Talkington, join 'Closing Bell' to discuss their market outlook following today's jobs report.

Persons: Wharton's Jeremy Siegel, Brian Belski, Bryn Talkington, Jeremy Siegel, Requisite’s Bryn Talkington Organizations: BMO

☆ Fed should 'tee up' rate cuts next meeting, says Wharton's Jeremy Siegel
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed should 'tee up' rate cuts next meeting, says Wharton's Jeremy SiegelJeremy Siegel, The Wharton School professor emeritus of finance and Wisdom Tree chief economist, joins 'Squawk on the Street' to discuss markets, the presidential debate, the Fed's subsequent decisions, and more

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: The Wharton

☆ The tech momentum trade that's pushing stocks to records can last a lot longer, Jeremy Siegel says
▼ + stars: | 2024-06-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The tech momentum trade driving market gains is likely to continue, says WisdomTree's Jeremy Siegel. AdvertisementThe tech momentum trade that has powered the stock market higher over the past year-and-a-half is likely to continue on for a lot longer than most expect, according to WisdomTree economist Jeremy Siegel. "I think that momentum trade on the tech and AI-related is still there. It takes a lot of bad news to break a momentum trade and we just haven't gotten it," Siegel said. "My forecast for three to five years on the entire stock market is 5% after inflation rate of returns.

Persons: WisdomTree's Jeremy Siegel, Siegel, —, Jeremy Siegel, Carson Group's, Wharton …, overvalued Organizations: Service, CNBC, Nvidia, Broadcom, it's

☆ Housing prices regulating should bring inflation closer to Fed's target: Wharton's Jeremy Siegel
▼ + stars: | 2024-06-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing prices regulating should bring inflation closer to Fed's target: Wharton's Jeremy SiegelJeremy Siegel, Wharton professor emeritus of finance, joins 'Closing Bell Overtime' to talk the May jobs report, the state of the U.S. economy and more.

Persons: Jeremy Siegel Jeremy Siegel, Wharton Locations: U.S

☆ There are 'very favorable signs' inflation will come down, says Wharton's Jeremy Siegel
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are 'very favorable signs' inflation will come down, says Wharton's Jeremy SiegelJeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, Fed Chair Powell's commentary, interest rate outlook, and more.

Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: University of Pennsylvania’s Wharton School of Business

☆ The Fed likely won't cut rates until after a recession strikes, research firm says
▼ + stars: | 2024-05-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The Fed likely won't cut interest rates until after a recession arrives, according to GlobalData TS Lombard. The research firm said Fed Chair Powell is likely to fall into the trap of being reactionary when it comes to rate decisions. AdvertisementThe Federal Reserve is making a big mistake by not cutting interest rates right now, according to GlobalData TS Lombard chief US economist Steven Blitz. And if inflation sees a sharp rebound to 5%, "they obviously hike" interest rates, Blitz said. AdvertisementAll-in, according to Blitz, it means that interest rates could stay at current levels for longer-than-expected, especially since it appears there will be no recession this year.

Persons: Powell, Steven Blitz, Jerome Powell, Blitz, Jeremy Siegel Organizations: Fed, GlobalData, Lombard, Federal Reserve

☆ Wharton's Jeremy Siegel: Still see gains ahead in the market this summer
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWharton's Jeremy Siegel: Still see gains ahead in the market this summerJeremy Siegel, a Wharton School professor of finance, joins 'Squawk on the Street' to discuss whether recent equity performance is warranted, how Fed voters would explain the gap between PCE and CPI data, and more.

Persons: Jeremy Siegel Organizations: Wharton School

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